Eversource Energy Stock Forecast
Eversource Energy stock upgraded to Buy Candidate.
(Updated on May 07, 2024)
The Eversource Energy stock price gained 2.45% on the last trading day (Tuesday, 7th May 2024), rising from $59.71 to $61.17. During the last trading day the stock fluctuated 2.05% from a day low at $60.03 to a day high of $61.26. The price has been going up and down for this period, and there has been a 1.36% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 313 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $119.76 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.52% during the next 3 months and, with a 90% probability hold a price between $61.05 and $66.28 at the end of this 3-month period.
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ES Signals & Forecast
The Eversource Energy stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $60.62 and $59.29. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -0.730%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Eversource Energy stock
Eversource Energy finds support from accumulated volume at $58.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.23 between high and low, or 2.05%. For the last week the stock has had daily average volatility of 3.23%.
Our recommended stop-loss: $58.75 (-3.95%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (ES) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Eversource Energy to open at $60.82, and during the day (based on 14 day Average True Range), to move between $59.62 and $62.72, which gives a possible trading interval of +/-$1.55 (+/-2.53%) up or down from last closing price. If Eversource Energy takes out the full calculated possible swing range there will be an estimated 5.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $61.62 (0.74%) than the support at $58.87 (3.76%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Eversource Energy stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Eversource Energy stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.808 Buy Candidate Upgraded
Predicted Opening Price for Eversource Energy of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $60.82 ( 0.572%) | $61.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ES
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.05 | 1.44 % | |
| R2 | 61.58 | 0.670 % | ||
| R1 | 61.29 | 0.196 % | ||
| Current price: | 61.17 | |||
| Support | S1 | 60.35 | -1.34 % | |
| S2 | 60.06 | -1.81 % | ||
| S3 | 59.59 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 61.62 | 0.736 % | ||
| Current price | 61.17 | |||
| Support | S1 | 58.87 | -3.76% | |
| S2 | 58.62 | -4.17% | ||
| S3 | 57.06 | -6.72% |
ES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | Jun 28, 2024 | $0.715 | 1.17% |
| 2 | Jan 31, 2024 | Mar 04, 2024 | Mar 29, 2024 | $0.715 | 1.20% |
| 3 | Dec 05, 2023 | Dec 15, 2023 | Dec 29, 2023 | $0.675 | 1.09% |
| 4 | Sep 14, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.680 | 1.17% |
| 5 | May 03, 2023 | May 17, 2023 | Jun 30, 2023 | $0.675 | 0.95% |
FAQ
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